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MAJOR CHANGES IN ETDS RETURN FILING FROM 01.07.2013

Major changes has been made applicable from 01.07.2013 in e filing of Etds return.With effect from 01/07/2013, the Income Tax Department the following File Validation Utilities for the purpose of preparing and filing TDS Returns would be applicable:

FVU Ver. 3.8 – Applicable from FY: 2010-11 onwards

FVU Ver 2.134 – Applicable from FY: 2007-08 till FY: 2009-10

Major changes are listed below.

Minor head is now required to be filled on challan details. There are two codes 200 and 400 ,so you have to fill these code as required .In most of the case 200 is to be filled .

No return filing or revision of return allowed for the the Fy 2006-07 or prior years.

Now Section code is required to be filled in each deductee detail instead of in challan details.It means multiple section can be selected in one single challan .

No cheque details is required to be filled in challan details .In most of the cases ,payment is made through online payment mode.

Late fee is to be provided in challan details applicable from FY 2012-13 onwards.

Due date for TDS Returns for FY:13-14 (Q1) is 15th July (For Govt deductors due date is 31st July). With all the changes, let us hope that the IT Department extends this date by at least 15 more days.

Indeed it is commendable that TDSMAN (software for TDS returns) has been very quick to respond to all these changes and they have already released their updated software on 3rd July 2013. It takes care of the newly released FVU versions.

As one of its users, we strongly recommend the software TDSMAN which is one of the best in the market and is reasonably priced at Rs. 3,000. The software is simple to use and nicely takes care of the regular TDS returns and correction statements. Some of its key features and uniqueness include:

- Integrated with TRACES & NSDL

- Interface for online PAN verification

- Unlimited Deductors, Deductees and Employees

- Seamless integration with FVU for single key return generation

- Covers all TDS & TCS forms

TDSMAN covers all four quarters of financial year 2013-14 and all previous years up to 2007-08.

For Simple Tax subscribers, we have negotiated a very special discount of 15%.